Immigration to Lithuania and European Union
Most common ways an alien may get a residence permit in Lithuania and be able to live and travel in the European Union (Schengen) is by creating a company or by being employed.
Residence by opening a company in Lithuania
There are three option to get a residence permit by opening a company in Lithuania.
The main difference is the amount of equity capital invested (28.000, 260.000 or 500.000 Euro), number of employees (2, 5 or 10) and their aggregate monthly salary (1837.60, 400 each or 926,70 Euro, bruto), respectively. The option chosen depends on the objectives of the founder, but basically, the higher the equity capital of the company, the shorter is the timeframe for issuance of a residence permit (4 to 1 month) and longer validity (2 to 3 years). The residence permits are renewable and permanent residence is issued after 5 years. If permanent residence is sought, travel abroad is restricted to 90 days per half a year and 10 month in total for the whole period. The applicant for residence must be a chief executive or have at least 1/3 of shares in the company, of which 14,000 Euros of its own assets, must provide evidence of min. subsistence (savings or salary of min. 400 Euro, bruto), have a place of residence (own, lease or permission of stay), non-conviction record (past 2 years) and health insurance (state or private). The newly established company must be active for 6 months prior application, but it is possible to apply for a National Visa (D) in due course. While an alien is applying for residence, a National Visa (D) issued, that allows travel to EU for the same duration, as mentioned above.
The most attractive aspect of doing business in Lithuania is not that facilitates free movement of goods and services without customs in the EU, but highly educated workforce and easy access to provision of fintech services (EMI, specialised banking, brokerage and investment, etc.), with the lowest threshold for equity capital and shortest license issuance procedures (from 3 months). The income taxes in Lithuania range from 0 to 5 and 15 percent. Family members are also allowed to reside in Lithuania.
Residence by employment
There are several options to acquire National Visa (D) or residence permit by being employed.
The most basic is by meeting the needs of the labour market and getting a permit from the Labour Exchange Office, prior employer’s invitation and a written undertaking to recruit for a period of not less than 6 months. Having a profession, which listed as highly desirable, provides the most expedient course of receiving a residence permit. Some requirement, such as one-year work experience in a qualification-related occupation, proof of qualification, subsistence\work contract (400 Euro\month, bruto), record of non-conviction, place of stay and health insurance are also applicable. It takes 2-4 months for issuance of a residence permit, which valid for 2 years and renewable. Same travel and work restrictions are present, as explained previously.
EU Blue Card
EU Blue Card is a temporary residence permit is most suited for highly-qualified aliens. In order to qualify EU Blue Card you must have a university diploma or vocational experience of at least 5 years, which equals higher education qualifications, and have been offered employment not less than 12 months for a monthly salary of 1.390,05 Euro (bruto). It takes 2-4 months for issuance of a residence permit, which is valid for 2 years and renewable. If employer undertakes to recruit for a period of not less than 12 months for a monthly salary of 2.780,10 Euro (bruto) or your occupation is included into the high-skilled occupations list, then the timeframe for issuance of a residence permit is 15 days to 1 month, which is valid for 3 years and renewable.
We can help you
Gencs Valters Law Firm can assist you with all aspects of opening a company in Lithuania, applying for National Visa (D) or residence, opening a SEPA bank account and obtain finance related licenses from the central bank. Such services are also provided for setting-up in Latvia or Estonia. For consultation, please contact our lawyers by e-mailing email@example.com.